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August 15, 2008


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Guess what, Brad--the economy's shifted to one that promises tournament rewards for entrepreneurial innovation. With the way we are now, a small percentage of laboring innovators contribute a great deal to productivity and are rewarded for such. The venture capitalists win as well. The rest of us are just enjoying fruits of their labors and innovation. It's great to be dragged along in such a wondrous economy. Of course, being dragged along as a member of the chattering class doesn't bring the great rewards of innovation, but it does allow us to live comfortably. It is tougher for supermarket checkers, but then again, where is the increase in productivity of supermarket checkers? Checkers' skill levels haven't increased much, but there's a much greater capital investment surrounding them. Why should we academic chatterers or the checkers expect much growth in income if we're not contributing much in growth in output?

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